JPMorgan Chase & Co. cut its stake in shares of Jabil Inc (NYSE:JBL) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,123,905 shares of the technology company’s stock after selling 90,808 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.69% of Jabil worth $30,435,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in shares of Jabil by 0.7% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 330,153 shares of the technology company’s stock valued at $9,132,000 after purchasing an additional 2,200 shares during the last quarter. United Services Automobile Association grew its holdings in shares of Jabil by 1.2% during the second quarter. United Services Automobile Association now owns 258,319 shares of the technology company’s stock valued at $7,145,000 after purchasing an additional 3,172 shares during the last quarter. Vident Investment Advisory LLC grew its holdings in Jabil by 2.3% in the 2nd quarter. Vident Investment Advisory LLC now owns 141,946 shares of the technology company’s stock worth $3,926,000 after buying an additional 3,204 shares in the last quarter. TD Asset Management Inc. grew its holdings in Jabil by 20.0% in the 2nd quarter. TD Asset Management Inc. now owns 21,600 shares of the technology company’s stock worth $597,000 after buying an additional 3,600 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Jabil by 5.8% in the 2nd quarter. US Bancorp DE now owns 68,995 shares of the technology company’s stock worth $1,909,000 after buying an additional 3,756 shares in the last quarter. 90.92% of the stock is owned by institutional investors.
JBL has been the subject of a number of recent analyst reports. Goldman Sachs Group raised Jabil from a “sell” rating to a “neutral” rating and set a $25.00 price objective for the company in a report on Sunday, November 11th. ValuEngine lowered Jabil from a “hold” rating to a “sell” rating in a report on Monday, November 12th. Citigroup decreased their price objective on Jabil to $24.00 and set a “sell” rating for the company in a report on Tuesday. They noted that the move was a valuation call. JPMorgan Chase & Co. decreased their price objective on Jabil from $37.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. Finally, TheStreet lowered Jabil from a “b-” rating to a “c+” rating in a report on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Jabil has an average rating of “Hold” and a consensus target price of $29.75.
Shares of JBL stock opened at $25.13 on Friday. Jabil Inc has a 12-month low of $23.04 and a 12-month high of $31.77. The company has a market capitalization of $4.10 billion, a P/E ratio of 11.58 and a beta of 0.54. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.04 and a quick ratio of 0.57.
Jabil (NYSE:JBL) last issued its quarterly earnings data on Tuesday, September 25th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Jabil had a return on equity of 16.56% and a net margin of 0.39%. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same period in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be given a $0.08 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.27%. Jabil’s dividend payout ratio (DPR) is 14.75%.
In other Jabil news, President William E. Peters sold 13,915 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $26.00, for a total value of $361,790.00. Following the completion of the sale, the president now directly owns 368,388 shares in the company, valued at $9,578,088. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alessandro Parimbelli sold 20,500 shares of the company’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $26.40, for a total value of $541,200.00. Following the completion of the sale, the chief executive officer now owns 339,811 shares of the company’s stock, valued at $8,971,010.40. The disclosure for this sale can be found here. Insiders sold 92,245 shares of company stock valued at $2,589,070 over the last 90 days. 2.60% of the stock is currently owned by insiders.
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic circuit design services, such as application-specific integrated circuit design, firmware development and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).
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